'Is Crypto legal?', asks Congress after FM Nirmala Sitharaman taxes digital currency

New Delhi: Congress leader and spokesperson Randeep Surjewala questioned Finance Minister Nirmala Sitharaman over taxing crypto currency without bringing in the Crypto Currency Bill.

"Is Is Crypto Currency now legal?", the congress leader questioned after Sitharaman announced 30 percent tax on proceeds of virtual/digital assets.

"And Ms. Finance Minister, pl do tell the Nation - Is Crypto Currency now legal, without bringing the Crypto Currency Bill, as you tax the crypto currency? What about its regulator? What about regulation of Crypto Exchanges? What about investor protection?", Surjewala questioned.

Finance minister Nirmala Sitharaman announced 30% tax on proceeds of virtual/digital assets.

FPJ Shorts

Jaipur–Mumbai Train Firing Case: Sessions Court Told Dismissed RPF Constable Chetansingh Chaudhary Is Medically Stable During Bail Plea Hearing

Bhandup BEST Bus Accident: Accused Driver Santosh Sawant Moves Sessions Court For Bail, Claims Crash Occurred While Avoiding Pedestrian

Mumbai Sessions Court Rejects Temporary Bail Plea Of IPS Officer Rashmi Karandikar’s Husband Purushottam Chavan In ₹24.78 Crore Cheating Case

Mumbai Sessions Court Convicts 42-Year-Old Man For Raping And Impregnating Woman, Sentences Him To 8 Years’ Rigorous Imprisonment

“I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition,” the FM said.

Read Also

Budget 2022: US companies look at tax parity, transparency, predictability to expand biz in India